Ethena Fee Conversion Proposal Approved, Programmed ENA Buyback to Begin

BlockBeats News, September 3rd, the Ethena Foundation announced that the Fee Conversion Proposal has been approved with 100% approval, the programmatic ENA buyback will commence, and will scale up gradually as milestones are achieved.

According to HTX Market, ENA has surged over 10.5% in the last 24 hours, now trading at $0.166.

On August 27th, the Ethena Foundation announced four adjustments to the Ethena ecosystem, including unlocking tokens held by early investors, further aligning token value with equity, initiating a governance proposal to buy back ENA from revenue, and canceling future monthly VC investor unlocks.